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Stock impact report

Excelerate Energy to Acquire New Fortress Energy's Jamaica Operations [Yahoo! Finance]

New Fortress Energy Inc. - Class A (NFE) 
Last new fortress energy inc. - class a earnings: 3/4 12:02 am Check Earnings Report
Company Research Source: Yahoo! Finance
The deal will be financed entirely in cash for a total consideration of $1.055 billion and is anticipated to conclude by the June quarter of 2025. This divestment is part of New Fortress' broader strategy to optimize its asset portfolio and reduce its debt burden. The company had been facing financial difficulties in the past year when it started looking for options to ease the situation. This included attracting strategic partners or selling off a part of its assets. Amid the financial challenges, New Fortress had to pause shareholder dividend payments while meeting with bondholders to discuss its debt maturities in the short term. The company's debt totaled $8.4 billion by 2024-end. The transaction involves NFE's LNG import terminal in Montego Bayand its Old Harbour offshore floating storage and regasification terminal. Additionally, the Combined Heat and Power Plant in Clarendon, which has a total capacity of 150 megawatts (MW) and the entire related infrastructure, is also par Show less Read more
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